Exercise Gym began May with merchandise inventory of 72 crates of vitamins that cost a total of $3,600. During the month, Exercise Gym purchased and sold merchandise on account as follows: (Click the icon to view the transactions) Read the tequicmonts. Requirement 1. Prepare a perpetual invertory rocord, using the FlFO imventory costing method, and determine the companys cost of goods sold, ending menchandise inventory, and grosu profit. Begin by computing the cost of goode sold and cost of ending morchandise invemtory using the Fifo inventory cosing mothod, Enter the transactions in chronological order, calculating new. inventory on hand balances ater each transaction, Once alt of the transactions tuve been entered into the perpetual record, calculate the quantily and total cost of merchandise inventary purchased sold, and on hand at the end of the period. (Enter the oldest inventory layers first) Determine the company's gross prots wing the fifo inventary costing method